Simply Good Foods (NASDAQ:SMPL) Price Target Raised to $38.00

Simply Good Foods (NASDAQ:SMPL) had its price target raised by research analysts at DA Davidson from $35.00 to $38.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s target price points to a potential upside of 4.68% from the company’s previous close.

SMPL has been the topic of several other research reports. Stifel Nicolaus boosted their price objective on Simply Good Foods from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 14th. TD Cowen assumed coverage on shares of Simply Good Foods in a report on Monday, April 22nd. They set a “hold” rating and a $34.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Friday, June 14th. Mizuho restated a “buy” rating and issued a $50.00 target price on shares of Simply Good Foods in a research report on Friday, April 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $42.00 price target on shares of Simply Good Foods in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Simply Good Foods has a consensus rating of “Moderate Buy” and a consensus target price of $40.29.

Simply Good Foods Stock Up 0.5 %

NASDAQ SMPL traded up $0.17 on Monday, hitting $36.30. 26,125 shares of the stock traded hands, compared to its average volume of 866,143. The stock has a 50-day moving average of $36.71 and a 200 day moving average of $36.61. Simply Good Foods has a twelve month low of $30.00 and a twelve month high of $43.00. The company has a market capitalization of $3.63 billion, a P/E ratio of 25.03, a price-to-earnings-growth ratio of 2.12 and a beta of 0.65. The company has a current ratio of 5.19, a quick ratio of 4.05 and a debt-to-equity ratio of 0.14.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings data on Thursday, June 27th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Simply Good Foods had a return on equity of 10.28% and a net margin of 11.49%. The firm had revenue of $334.80 million for the quarter, compared to analysts’ expectations of $337.66 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Simply Good Foods’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, analysts expect that Simply Good Foods will post 1.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Simply Good Foods news, Director James D. White sold 4,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $38.17, for a total transaction of $152,680.00. Following the completion of the transaction, the director now directly owns 17,027 shares of the company’s stock, valued at approximately $649,920.59. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 10.98% of the company’s stock.

Hedge Funds Weigh In On Simply Good Foods

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in Simply Good Foods by 121.5% during the 4th quarter. Pacer Advisors Inc. now owns 833 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 457 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Simply Good Foods by 103.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 853 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 433 shares in the last quarter. Principal Securities Inc. bought a new position in Simply Good Foods during the 4th quarter valued at $36,000. TFO Wealth Partners LLC lifted its position in shares of Simply Good Foods by 59,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,184 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,182 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Simply Good Foods by 18.8% during the 4th quarter. Blue Trust Inc. now owns 1,846 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 292 shares during the last quarter. 88.45% of the stock is owned by institutional investors.

About Simply Good Foods

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.